Chapin Davis Inc. Boosts Stock Position in Verizon Communications Inc. (NYSE:VZ)

Chapin Davis Inc. raised its stake in shares of Verizon Communications Inc. (NYSE:VZ) by 2.8% in the first quarter, Holdings Channel reports. The institutional investor owned 32,237 shares of the cell phone carrier’s stock after buying an additional 872 shares during the quarter. Chapin Davis Inc.’s holdings in Verizon Communications were worth $1,353,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. LFA Lugano Financial Advisors SA increased its position in shares of Verizon Communications by 627.8% during the fourth quarter. LFA Lugano Financial Advisors SA now owns 655 shares of the cell phone carrier’s stock valued at $25,000 after acquiring an additional 565 shares in the last quarter. Criterion Capital Advisors LLC purchased a new stake in Verizon Communications during the 4th quarter valued at $25,000. Vermillion & White Wealth Management Group LLC bought a new stake in shares of Verizon Communications in the 4th quarter worth $29,000. Morton Brown Family Wealth LLC increased its holdings in shares of Verizon Communications by 130.1% in the 4th quarter. Morton Brown Family Wealth LLC now owns 863 shares of the cell phone carrier’s stock worth $33,000 after purchasing an additional 488 shares in the last quarter. Finally, Vima LLC purchased a new position in shares of Verizon Communications in the fourth quarter worth $36,000. 62.06% of the stock is owned by institutional investors.

Verizon Communications Stock Up 0.4 %

Shares of NYSE VZ opened at $41.40 on Monday. The company has a current ratio of 0.71, a quick ratio of 0.67 and a debt-to-equity ratio of 1.42. Verizon Communications Inc. has a 12-month low of $30.14 and a 12-month high of $43.42. The firm’s 50-day moving average price is $40.07 and its 200-day moving average price is $40.06. The stock has a market capitalization of $174.26 billion, a price-to-earnings ratio of 15.45, a P/E/G ratio of 3.75 and a beta of 0.41.

Verizon Communications (NYSE:VZ) last issued its quarterly earnings data on Monday, April 22nd. The cell phone carrier reported $1.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.03. The business had revenue of $33 billion for the quarter, compared to the consensus estimate of $33.23 billion. Verizon Communications had a return on equity of 20.41% and a net margin of 8.44%. The company’s quarterly revenue was up .3% compared to the same quarter last year. During the same period in the prior year, the business posted $1.20 earnings per share. On average, equities research analysts anticipate that Verizon Communications Inc. will post 4.59 EPS for the current fiscal year.

Verizon Communications Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Stockholders of record on Wednesday, July 10th will be paid a $0.665 dividend. This represents a $2.66 annualized dividend and a dividend yield of 6.43%. The ex-dividend date is Wednesday, July 10th. Verizon Communications’s dividend payout ratio is currently 99.25%.

Analyst Ratings Changes

Several equities research analysts recently commented on VZ shares. Oppenheimer reiterated an “outperform” rating and issued a $48.00 price objective on shares of Verizon Communications in a report on Tuesday, April 23rd. Redburn Atlantic upgraded shares of Verizon Communications from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $33.00 to $39.00 in a research note on Friday, March 22nd. StockNews.com raised shares of Verizon Communications from a “hold” rating to a “buy” rating in a report on Saturday, May 4th. Royal Bank of Canada raised their target price on Verizon Communications from $36.00 to $40.00 and gave the stock a “sector perform” rating in a research report on Tuesday, April 2nd. Finally, Wells Fargo & Company lowered their price objective on shares of Verizon Communications from $44.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 23rd. Six research analysts have rated the stock with a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $45.14.

About Verizon Communications

Verizon Communications Inc, through its subsidiaries, engages in the provision of communications, technology, information, and entertainment products and services to consumers, businesses, and governmental entities worldwide. It operates in two segments, Verizon Consumer Group (Consumer) and Verizon Business Group (Business).